New CoinShares gold token now available on The PIT cryptocurrency exchange
DGLD, a gold token with more than USD20 million in investment grade gold allocated in Swiss vaults and secured using Bitcoin, is now available for purchase exclusively on The PIT, Blockchain.com’s cryptocurrency exchange.
DGLD is a digital asset (token) created by CoinShares, Europe’s Largest Digital Asset Manager, Blockchain.com, the most trusted platform for cryptocurrency products, and MKS (Switzerland) SA, part of the world’s most trusted gold group. At creation, each DGLD token represents 1/10th of a troy ounce of physical gold stored in Swiss vaults for which token holders can swap or physically redeem.
The launch comes at a time when gold purchasing habits around the world are undergoing a major shift. Consumers are slowly, but steadily switching from traditional physical-ownership of gold to digital formats of gold ownership that improve liquidity, are accessible 24/7, lower storage costs, and enhance security.
“Too often gold has been pitted against bitcoin as rivals,” says Charles McGarraugh, Head of Markets at Blockchain.com. “With DGLD we’ve thrown that question out of the window to say that the world’s two hardest assets are ideal complements for investors across the world. Market conditions are likely to increasingly favour hard assets in coming years, and I see this mutually beneficial interplay only increasing over time.”
“If there was going to be a gold standard 2.0, DGLD is what it would look like: supranational, secure ownership of physical gold which is digitally spendable,” says Daniel Masters, Chairman of CoinShares. “That’s exactly what DGLD is – the world’s most enduring physical asset, Gold, combined with the world’s most resilient network, Bitcoin, to make gold digitally usable. After two plus years of work, we could not be more excited to see trading of digitized gold begin on the PIT.”
"As Switzerland’s premier gold storage and fabrication facility we are proud to provide the physical infrastructure to support DGLD," says Marwan Shakarchi, Chairman of MKS (Switzerland) SA. "Our worldwide network of gold clients welcome this digital innovation to a much loved asset class."